Cement News tagged under: capital raising

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India: JK Lakshmi approves raising INR5bn

27 October 2016, Published under Cement News

A JK Lakshmi Cement board meeting held on 26 October approved the raising of INR5bn (US$74.7m) through the issuance of non-convertible debentures (NCDs) on private placement basis. The company issued a statement to this effect to the BSE. JK Lakshmi Cement operates integrated plants at Sirohi (Rajashthan), Durg (Chhatisgarh), Kalol and Surat in Gujarat and Jharli (Haryana). The company boasts an 8.4Mta capacity which is scheduled to increase to 12Mta.

PPC Zimbabwe plant project on track

03 August 2016, Published under Cement News

According to CEO, Darryll Castle, the construction of PPC’s new plant in Zimbabwe remains on track for completion in 2016, despite riots in the country and restrictions remaining on some South African goods. The new mill, with an expected capacity of 0.7Mta, is crucial to reducing the company’s costs, Mr Castle said. "Even if the volume is not required because Zimbabwe’s economy slows, the project still makes sense from a cost-optimisation process." This project in Zimbabwe is one of four...


25 May 2016, Published under Cement News

Shares in PPC have plummeted following the company’s announcement that it is preparing a capital raising of up to ZAR4bn (US$256m), whilst also revealing it is in talks with a credit ratings agency what will probably lead to a downgrade. Stock declined last week by as much as 16 per cent, which could prove to the the biggest drop on record. The shares have reportedly declined by 21 per cent for the year so far, compared to a 3.6 per cent gain in the FTSE/JSE Africa All Share Index. The pr...